Nanonets – Features, Pricing, Alternatives and Review

Nanonets is an AI-powered platform that allows businesses to automate complex processes, extract valuable information from unstructured data, and make faster, more informed decisions.

With its no-code platform and advanced AI capabilities, Nanonets enables businesses to put their processes on autopilot and unlock actionable insights from documents and data.

Nanonets uses advanced OCR and Deep Learning to extract relevant information from unstructured text and documents.

It offers a range of solutions, including Invoice OCR, Receipt OCR, Passport OCR, Driver License (US) OCR, ID Card OCR, Table Extraction OCR, PDF Scraper, and OCR API, to streamline various document-related tasks.

Read on to learn more about Nanonets key features, pricing plans, pros & cons, comparison with alternatives and review to make a more informed decision for your business needs.

Nanonets Key Features

Feature	Description
Business Process Automation	Nanonets provides intelligent automation of complex business processes with a no-code platform.
Data Extraction	Extract meaningful information from unstructured data in documents, emails, tickets, and databases.
Seamless Ingestion	Effortlessly import files from popular sources like Gmail, Dropbox, Drive, and SharePoint.
Intelligent Extraction	Utilize advanced AI to accurately extract data without predefined templates.
Data Enrichment	Enhance extracted data for actionable insights.
Smart Decision Engines	Streamline workflow with decision engines to flag, review, and validate files.
Flexible Export Options	Export data to CRM, WMS, or databases directly or in XLS, CSV, or XML formats.
Data Security Compliance	Compliance with GDPR, SOC 2, and HIPAA standards for data security.
Invoice OCR	Extract data from unstructured invoices down to SKU-level line items.
Receipt OCR	Extract data from receipts across currencies and languages.
Passport OCR	Extract important information from passports for verification purposes.
Driver License (US) OCR	Recognize and process information from US driver’s licenses.
ID Card OCR	Extract data from various ID cards for various purposes.
Table Extraction OCR	Extract tabular data from documents for analysis and processing.
PDF Scraper	Extract data from PDF documents efficiently.
OCR API	Access Nanonets’ OCR capabilities through an API for integration.
AP Automation Software	Automate accounts payable processes, manage invoices, and gain financial control.
Supplier Communication Management	Streamline communication with suppliers for efficient invoice processing.
Approval Workflow	Set up custom approval workflows and notifications for invoice approvals.
Intelligent Mapping	Automatically code documents based on business rules for accurate expense categorization.
Seamless Data Syncing	Seamlessly sync extracted data with accounts payable platforms.
Integration with Existing Tools	Integrate with accounting, storage, and ERP systems such as Quickbooks, Xero, Sage, and Google Sheets.
Data Import	Automate document collection from various sources.
Online OCR Tool	Convert images and PDFs to editable text with Nanonets’ online OCR tool.
Free OCR API for Developers	Access Nanonets’ OCR API for converting images and PDFs to text.

Nanonets Pricing Plan

1. Starter

It includes three starter models, limited fields, auto-capture tables (line items),

Pricing

The first 500 Pages are free, and then it charges $0.3/page.

2. Pro

It includes auto-capture line items (tables), up to 20 fields, adding team members, annotation services, Customization hours, and export to MS Dynamic, Salesforce, and SAP.

Pricing

It costs $499/month/model, which includes 5000 pages per month, then $0.1/page.

3. Enterprise

It includes everything in Pro plus; Add-ons you can pick from, SSO/SAML Login, SLAs, dedicated account manager, custom integrations and API responses, customized client onboarding, white-labelled UI, custom data retention, multiple licenses, models, and workflows, and personalized 1-1 team training.

Pricing

Contact Sales.

Nanonets Pros & Cons

Nanonets Comparison With Alternatives

Feature	Nanonets	Abbyy	Google Document AI	AWS Textract	Laserfiche
Core Competency	Tailored for companies of all sizes with 95% field accuracy	High-accuracy OCR with diverse document support	Automated data processing with detailed document analysis	Accurate text, table, and handwriting extraction	Enterprise content management and process automation
Unique Feature	Zero-shot Data Extraction Without Training and 24×7 support	Comprehensive support and customizable workflow automation	Incorporates human-in-the-loop concept	Integration with other AWS services for enterprise systems	Integration with other enterprise systems
Accuracy	95% field accuracy	High accuracy with varying document types	Detailed document analysis beyond text	High accuracy for text and data extraction	High accuracy for text and data extraction
Support	24×7 support	Comprehensive support and training options	Incorporates human-in-the-loop concept	Comprehensive support and documentation	Comprehensive support and documentation
Integrations	Enhanced interoperability and extensive integration options	Extensive integrations and APIs	Outputs JSON format for analysis	Integration options with AWS services	Integration with other enterprise systems
Document Types	Supports various document types efficiently	Handles unstructured documents efficiently	Specific formats like receipts and invoices	Handles various document types, including tables and handwriting	Handles various document types, including tables and handwriting
Data Extraction Accuracy	High accuracy on non-standard documents	Precise data extraction	Extracts text, line breaks, and more	Accurate extraction of text, tables, and handwriting	Accurate extraction of text, tables, and handwriting
Team Training & Support	Personalized support and training	Comprehensive support and training options available	Improves AI through user feedback	Documentation and training resources available	Documentation and training resources available
Integration Flexibility	Seamless integration capabilities	Extensive integration options	Requires setup via Google Cloud	Integrates with other AWS services	Integrates with other enterprise systems
Multilingual Support	Captures data in any language	Multilingual support for diverse documents	Detects multiple languages in documents	Limited language support	Multilingual support for diverse documents
Pricing	STARTER: Sign Up For Free, PRO: $499/month/model, ENTERPRISE: Contact Sales	500 Pages: $29.99 per month, 2,000 Pages: $99.99 per month, 5,000 Pages: $199.99 per month, 10,000 Pages: $299.99 per month	1-5M pages/month: $1.50 per 1,000 pages, 5M+ pages/month: $0.60 per 1,000 pages	Custom pricing	Starter: $50 USD/user/month Professional: $69 USD/user/month Business: $79 USD/user/month

Nanonets Vs. Abbyy

Nanonets and ABBYY FlexiCapture are robust contenders in AI-powered document processing and data extraction solutions.

Both tools offer advanced features to streamline document-related tasks and automate complex workflows.

In this comparison, we will explore and contrast these two solutions, considering their core capabilities, unique features, accuracy, and pricing models, helping you make an informed choice for your document automation needs.

1. Automation Capability

Nanonets specializes in automating complex business processes with its no-code platform.

It has decision engines to empower teams to make faster, informed decisions. Nanonets can automate tasks across a wide range of industries.

ABBYY FlexiCapture focuses on document processing and intelligent data capture.

It’s designed to automate data extraction from various document types, making it particularly suitable for businesses with document-centric workflows.

2. Data Extraction Accuracy

Nanonets boasts a 95% field accuracy and can extract valuable information from unstructured data sources such as documents, emails, tickets, or databases.

ABBYY offers highly accurate OCR/ICR/OMR and barcode recognition using natural language processing (NLP) technology for intelligent data extraction, ensuring precision.

3. Support and Training

Nanonets provides 24×7 support and personalized training to help users make the most of their platform.

ABBYY FlexiCapture offers comprehensive support and video tutorials for users to gain expertise in the platform.

4. Deployment Flexibility

Nanonets can be deployed on-premises and in the cloud, offering flexibility in how organizations implement the solution.

ABBYY offers on-premises, cloud (Microsoft Azure), and SDK deployment options to cater to diverse needs.

5. Unique Features

Nanonets emphasizes the importance of human decision-making in the automation process. It offers decision engines and personalized training as unique features.

ABBYY: ABBYY FlexiCapture’s unique feature lies in its use of natural language processing (NLP) for intelligent data extraction, ensuring high accuracy.

6. Integration Capabilities

Nanonets provides seamless ingestion of documents from various sources, including Gmail, Dropbox, Drive, SharePoint, and more.

ABBYY offers extensive integration capabilities with popular business systems such as RPA, CRM, ERP, BPM, and ECM.

7. Compliance Standards

Nanonets adheres to data security standards like GDPR, SOC 2, and HIPAA to prioritize data confidentiality and integrity.

ABBYY ensures compliance with process and security models for end-to-end data handling.

Nanonets Review

The need for efficient OCR document management and data extraction in an increasingly digital world has never been greater.

Optical Character Recognition (OCR) software has emerged as a crucial solution to convert non-editable document formats into machine-readable and editable data.

In this review, we delve into Nanonets, a standout OCR software in 2023 that offers robust features, making it a game-changer for businesses seeking to automate their data processes.

OCR and Its Significance

OCR, or Optical Character Recognition, is the technology that identifies and recognizes text within scanned documents, images, or photos.

OCR software harnesses this technology to extract data from PDFs and scanned documents by converting it into machine-readable text data.

This transformed data can be easily edited, stored, and processed further, opening up a world of possibilities for businesses seeking efficiency and accuracy in document management.

The significance of OCR software is underscored by its ability to streamline document processing workflows.

Traditionally, tasks such as scanning and processing invoices, receipts, and images for valuable data have been tedious and error-prone manual processes.

Enhanced with AI and machine learning capabilities, OCR software automates data capture, significantly reducing the need for manual data entry and validation.

This results in substantial time and resource savings for organizations.

Nanonets: A Pioneer in OCR Software

Nanonets is a leading OCR software solution in 2023, offering comprehensive features designed to empower businesses. Here’s what sets Nanonets apart from the traditional OCR software landscape:

1. AI-Powered Document Processing

Nanonets leverages advanced AI and machine learning capabilities to enhance its document processing.

This means it can accurately capture data and extract text from scanned documents, images, and PDFs, even without predefined templates.

This adaptability is a game-changer for businesses dealing with diverse document types.

Anyone without experience can upload data or annotate images and extract them as structured data with actionable insights.

2. Seamless Ingestion

The platform’s ability to effortlessly import files from popular sources like Gmail, Dropbox, Drive, SharePoint, and more ensures a smooth integration into existing workflows.

This feature simplifies the document capture process, reducing manual effort.

3. Data Enrichment

Nanonets goes beyond simple data extraction by offering data enrichment options.

The extracted data can be enhanced to unlock its full potential, providing actionable insights that drive informed decision-making.

4. Smart Decision Engines

The inclusion of decision engines in Nanonets’ feature set streamlines workflow by efficiently flagging, reviewing, and validating files to maintain data accuracy and consistency.

5. Flexible Export Options

Nanonets allows users to seamlessly export data to various destinations, including CRMs, WMS, databases, and offline formats like XLS, CSV, or XML to ensure that the extracted data is readily available for further use.

6. Data Security Compliance

Data security is a top priority for Nanonets.

The platform adheres to stringent compliance standards, including GDPR, SOC 2, and HIPAA, ensuring that sensitive data is handled with confidentiality and integrity.

7. Wide Range of Applications

Nanonets’ versatility extends to various industries and use cases.

From automating accounts payable processes to extracting data from receipts, purchase orders, invoices, passports, and more, Nanonets caters to a broad spectrum of document-related needs.

8. User-Friendly Interface

Nanonets offers a no-code platform, making it accessible to users with varying technical backgrounds.

This ease of use empowers teams to put their business processes on autopilot without extensive technical knowledge.

9. Tailored Solutions with Nanonets Customization

Nanonets offers customizable solutions to meet the unique needs of businesses. Its no-code platform allows easy adaptation to specific workflows and document types.

Users can define custom approval policies, data enrichment rules, and export preferences to create custom models if there are documents that Nanonets cannot parse.

10. Unlock OCR Power with Nanonets APIs

Building APIs with Nanonets grants developers seamless access to AI-driven OCR capabilities, facilitating automated data extraction and intelligent document processing.

Integrate Nanonets OCR technology to streamline workflows and enhance software solutions across industries. Harness OCR’s potential for efficient document management, custom data extraction, and content analysis by integrating everyday apps via APIs.

Conclusion

Nanonets proves to be an indispensable tool for businesses looking to automate their document management and data extraction processes.

With Nanonets, businesses gain the tools they need to harness the power of machine learning models, effectively extracting valuable data from their documents.

Whether it’s invoices, receipts, or any other document type, Nanonets empowers users to make the most of their data, ultimately enhancing efficiency and decision-making.